Stock Market News

Lordstown Motors Foxconn to Build Autonomous Electric Tractors at Ohio Facility

2022.08.09 22:33

Lordstown Motors Foxconn to Build Autonomous Electric Tractors at Ohio Facility
Lordstown Motors (RIDE) Foxconn to Build Autonomous Electric Tractors at Ohio Facility

By Michael Elkins

Investing.com – Electronics contractor Foxconn announced Tuesday that the company will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio, facility. The agreement with Monarch Tractor is the first manufacturing contract Foxconn has entered since purchasing the facility.

Foxconn will also use the facility to build electric vehicles for Fisker (FSR) and Lordstown (RIDE).

Monarch debuted its first autonomous electric tractor to a select group of farmers last year. The company has since entered into a multi-year licensing agreement with, minority stake holder, CNH Industrial (NYSE:CNHI).

The company did not disclose the cost of the tractor but said the autonomous software will be sold separately and that farmers will have to pay a monthly fee to access the services.

Production for Monarch’s battery powered MK-V series tractor is scheduled to begin in the first quarter of 2023.

 

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,635.41 0.43%
ethereum
Ethereum (ETH) $ 1,904.77 0.50%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.35 0.35%
bnb
BNB (BNB) $ 640.60 6.06%
solana
Solana (SOL) $ 128.94 3.71%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.725903 0.53%
dogecoin
Dogecoin (DOGE) $ 0.174147 0.55%
tron
TRON (TRX) $ 0.214566 1.74%
staked-ether
Lido Staked Ether (STETH) $ 1,898.87 0.58%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,396.34 0.57%
pi-network
Pi Network (PI) $ 1.34 10.13%
leo-token
LEO Token (LEO) $ 9.80 0.64%
chainlink
Chainlink (LINK) $ 13.82 1.54%
the-open-network
Toncoin (TON) $ 3.42 0.47%
stellar
Stellar (XLM) $ 0.274072 1.04%
usds
USDS (USDS) $ 1.00 0.02%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,276.75 0.48%
hedera-hashgraph
Hedera (HBAR) $ 0.191432 0.65%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.67%
avalanche-2
Avalanche (AVAX) $ 18.61 2.91%
sui
Sui (SUI) $ 2.31 0.01%
litecoin
Litecoin (LTC) $ 93.24 1.68%
polkadot
Polkadot (DOT) $ 4.42 3.28%
mantra-dao
MANTRA (OM) $ 6.79 2.82%
bitcoin-cash
Bitcoin Cash (BCH) $ 336.18 0.21%
ethena-usde
Ethena USDe (USDE) $ 0.999791 0.06%
bitget-token
Bitget Token (BGB) $ 4.47 0.54%
weth
WETH (WETH) $ 1,904.91 0.59%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.995229 0.58%
hyperliquid
Hyperliquid (HYPE) $ 13.62 0.19%
whitebit
WhiteBIT Coin (WBT) $ 28.45 1.31%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,024.30 0.54%
monero
Monero (XMR) $ 209.47 1.71%
uniswap
Uniswap (UNI) $ 6.22 0.11%
susds
sUSDS (SUSDS) $ 1.04 0.06%
aptos
Aptos (APT) $ 5.37 2.07%
dai
Dai (DAI) $ 0.999995 0.01%
near
NEAR Protocol (NEAR) $ 2.58 1.98%
pepe
Pepe (PEPE) $ 0.000007 1.00%
okb
OKB (OKB) $ 49.08 5.76%
mantle
Mantle (MNT) $ 0.834913 5.37%
internet-computer
Internet Computer (ICP) $ 5.75 0.70%
gatechain-token
Gate (GT) $ 21.99 1.80%
ondo-finance
Ondo (ONDO) $ 0.854085 0.68%
ethereum-classic
Ethereum Classic (ETC) $ 17.88 0.81%
aave
Aave (AAVE) $ 169.82 1.25%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,574.39 0.52%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.01 0.25%